Multi-family
1,650 sqft. Interior
4,678 sqft. Exterior
2 Bathrooms
2 Doors
Property Location
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Disclaimer:
As experts in property purchasing, we offer consultations and detailed analyses of rental income properties. However, the images, financial projections, and examples presented are for illustrative purposes only and do not guarantee returns or the expected profitability. The configurations and features of the properties may vary. We strongly recommend that you consider our guidance, but also conduct your own research and due diligence before making any investment decisions. Trust our expertise, but remember that all investments carry inherent risks. You are solely responsible for your investment decisions. Your trust is our priority.
Comprehensive Financial Details
At Great Front Door, transparency is key. We want you to have a clear understanding of all costs associated with your property investment. Below, we break down the pricing for Rental Income Property to help you make an informed decision
FINANCIAL DETAILS
- Description Amount
- Listing Price: $ XX,XXX
- Cash Due at Closing
- Down Payment: $ 31,000
- Agent Fees: $ 4,650
- Mortgage Fees: $ 1,240
- 1st Year's Insurance: $ 1,550
- 1st Year's Taxes: $ 1,550
- Total Closing Costs: $ 39,990
- Renovation Cost: $ 40,000
- Mortgage While Renovating: $ 1,708
- Property Management Fees: $ 2,133
- Total Initial Investment: $ 83,832
- Investor Considerations
- After Repair Value (ARV): $ 45,500
- Equity after Renovation (EaR): $ -193,332
- Fix and Flip Max Price: $ 11,850
RENTAL COMPARISON AND CASH FLOW
- Description Amount
- Monthly Income
- Avg. Monthly Rent ( 2 x 2-bed, 1-bath, 788-sqft rental unit): $ 1,067
- TOTAL Avg. Monthly Rent: $ 2,133
- Monthly Expenses
- Monthly Mortgage Payment: $ 854
- Monthly HOA (if any): $ 0
- Monthly Insurance: $ 129
- Monthly Tax: $ 129
- Monthly Maintenance: $ 129
- Monthly Property Management Fees: $ 213
- Total Monthly Payment: $ 1,455
- Monthly Cash Flow: $ 678
- Annual Cash Flow: $ 8,139
- Return of Investment via Rental Cash Flow: 10 years and 3 months
HOW WOULD I RETURN MY INITIAL INVESTMENT?
- Initial Investment: To acquire this property with listing price of $XX,XXX.XX and maximize the rental potential of this property, you will need an initial investment of approximately $83,832. This includes closing costs totaling $39,990 which is a down payment of $31,000, agent fees of $4,650 and mortgage fees of $1,240. Initial investment also includes your renovation budget of $40,000 and mortgage payments during the renovation over 2 months totaling $1,708.
- After Repair Value (ARV): The property has an After Repair Value (ARV) of $45,500. The maximum price for a Fix and Flip is estimated at $11,850. After accounting for all renovation costs, the Equity After Renovation stands at $-193,332. Since the number is negative, you'll need to wait for the Monthly Cash Flow of $678 to pay back your $83,832 Total Initial Investment in 10 years and 3 months.
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ARV Comparison Data
Comparable Property Link After Repair Value (ARV) $ 62,000 $ 29,500 $ 45,000 Comparable Property Link: https://www.zillow.com/homedetails/1613-1615-Superior-Ave-Dayton-OH-45402/2053697655_zpid/
After Repair Value (ARV): $ 62,000Comparable Property Link: https://www.zillow.com/homedetails/928-Dustin-St-Dayton-OH-45402/35095934_zpid/
After Repair Value (ARV): $ 29,500Comparable Property Link: https://www.zillow.com/homedetails/322-Adelite-Ave-Dayton-OH-45402/35098012_zpid/
After Repair Value (ARV): $ 45,000 -
Rental Cash Flow:
There are 2 x 2 Bed, 1 Bath, 788 sqft units that average $1,067. You could rent 2 units for an average of $1,067 per month totaling $2,133.
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2-bed with 1-bath Unit Monthly Rent Price Comparison Data
Rental Unit Link Rent Estimate Square Feet $ 1,500 1,000 $ 950 700 $ 750 666 Rental Unit Details Rental Unit Link: https://www.zillow.com/homedetails/Dayton-OH-45402/111598427_zpid/
Rent Estimate: $ 1,500
Square Feet: 1,000Rental Unit Link: https://www.zillow.com/homedetails/514-Anna-St-1-Dayton-OH-45402/442293889_zpid/
Rent Estimate: $ 950
Square Feet: 700Rental Unit Link: https://www.zillow.com/apartments/dayton-oh/audubon-crossing/Ch5XjT/#unit-440875903
Rent Estimate: $ 750
Square Feet: 666 - Return of Investment: With total monthly expenses amounting to $1,455, including mortgage payments, taxes, insurance, and maintenance, you can anticipate a monthly cash flow of approximately $678. This results in an annual cash flow of $8,139, indicating a return on investment over a period of about 10 years and 3 months.
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